clearing sample

hello everyone this is my first post, i am more of an engineer than a producer/programmer, however i created an instrumental using a sample from a soul&rnb group, i want to sell this intrumental hopefully contracting taxi to have a chance of someone hearing it, my question really is should i notify the record label that i sampled from first, to let them know that i want to strike a deal with someone or should i wait till an artist/record label likes it. i am just scared theyll blow me off and use my idea, i just want to do this the right way, i dont have any money to clear the sample so ofcourse it would be the buyer clearing it. HOW DOES IT WORK maybe i have it all wrong, by the way the sample is used through out the whole song but in total seconds its only about 5 sec. chopped and looped.

I think the sooner you get it cleared the better. If you wait till theres a potential big name on it, they original label will be charging much more. Also make sure it's cleared before you release it anywhere (demo,cd,radio,ect)